07143oam 22014534 450 991078990400332120230801223133.01-4639-8626-21-4639-4952-91-4639-4099-8(CKB)2670000000184980(EBL)1606540(SSID)ssj0000941791(PQKBManifestationID)11498812(PQKBTitleCode)TC0000941791(PQKBWorkID)10964434(PQKB)11233022(MiAaPQ)EBC1606540(Au-PeEL)EBL1606540(CaPaEBR)ebr10553701(OCoLC)870244936(IMF)WPIEE2012029(IMF)WPIEA2012029(EXLCZ)99267000000018498020020129d2012 uf 0engur|n|---|||||txtccrBank Funding Structures and Risk : Evidence From the Global Financial Crisis /Pablo Federico, Francisco VazquezWashington, D.C. :International Monetary Fund,2012.1 online resource (35 p.)IMF Working PapersDescription based upon print version of record.1-4639-3314-2 Includes bibliographical references.Cover; Abstract; Contents; I. Introduction; II. Related Literature and Empirical Hypotheses; III. Data and Target Variables; A. Indicators of Bank Liquidity and Leverage; B. Global Banks Versus Domestic Banks; C. Bank Failure; IV. Empirical Approach and Quantitative Results; A. Stylized Facts; B. Baseline Regressions; C. Are There Threshold Effects at Play?; D. Are There Differences Across Bank Types?; V. Robustness Check; VI. Concluding Remarks; VII. References; Figures; 1. Evolution of Structural Liquidity and Leverage Before the Crisis, 2001-072. Evolution of Structural Liquidity and Leverage by Failed and Non-Failed Banks3. Distributions of Pre-Crisis Liquidity and Leverage across Failed and Non-Failed; Tables; 1. Stylized Balance-Sheet and Weights to Compute the NSFR; 2. Sample Coverage by Region and Type; 3. Summary Statistics of Selected Variables, 2001-07; 4. Pairwise Correlations Between Selected Variables, 2001-07; 5. Baseline Regressions; 6. Estimates of the Marginal Impact on the Probabilities of Default; 7. Probit Regressions by Sub-Samples of Liquidity and Leverage; 8. Regressions by Bank Types9. Results of Robustness Checks by Alternative Definitions of Liquidity and CapitalTable 10. Results of Robustness Checks by Sub-Components of Bank FailureThis paper analyzes the evolution of bank funding structures in the run up to the global financial crisis and studies the implications for financial stability, exploiting a bank-level dataset that covers about 11,000 banks in the U.S. and Europe during 2001?09. The results show that banks with weaker structural liquidity and higher leverage in the pre-crisis period were more likely to fail afterward. The likelihood of bank failure also increases with bank risk-taking. In the cross-section, the smaller domestically-oriented banks were relatively more vulnerable to liquidity risk, while the large cross-border banks were more susceptible to solvency risk due to excessive leverage. The results support the proposed Basel III regulations on structural liquidity and leverage, but suggest that emphasis should be placed on the latter, particularly for the systemically-important institutions. Macroeconomic and monetary conditions are also shown to be related with the likelihood of bank failure, providing a case for the introduction of a macro-prudential approach to banking regulation.IMF Working Papers; Working Paper ;No. 2012/029Global Financial Crisis, 2008-2009Bank failuresDeveloped countriesBanks and BankingimfFinance: GeneralimfFinancial Risk ManagementimfIndustries: Financial ServicesimfInvestments: StocksimfFinancial Institutions and Services: Government Policy and RegulationimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfPortfolio ChoiceimfInvestment DecisionsimfFinancial CrisesimfFinancial Institutions and Services: GeneralimfPension FundsimfNon-bank Financial InstitutionsimfFinancial InstrumentsimfInstitutional InvestorsimfBankingimfFinanceimfFinancial services law & regulationimfEconomic & financial crises & disastersimfInvestment & securitiesimfLiquidity requirementsimfLiquidityimfFinancial crisesimfDistressed institutionsimfFinancial regulation and supervisionimfAsset and liability managementimfFinancial institutionsimfStocksimfBanks and bankingimfState supervisionimfEconomicsimfFinancial services industryimfUnited StatesimfGlobal Financial Crisis, 2008-2009.Bank failuresBanks and BankingFinance: GeneralFinancial Risk ManagementIndustries: Financial ServicesInvestments: StocksFinancial Institutions and Services: Government Policy and RegulationBanksDepository InstitutionsMicro Finance InstitutionsMortgagesPortfolio ChoiceInvestment DecisionsFinancial CrisesFinancial Institutions and Services: GeneralPension FundsNon-bank Financial InstitutionsFinancial InstrumentsInstitutional InvestorsBankingFinanceFinancial services law & regulationEconomic & financial crises & disastersInvestment & securitiesLiquidity requirementsLiquidityFinancial crisesDistressed institutionsFinancial regulation and supervisionAsset and liability managementFinancial institutionsStocksBanks and bankingState supervisionEconomicsFinancial services industryFederico Pablo1497248Vazquez Francisco395343DcWaIMFBOOK9910789904003321Bank Funding Structures and Risk3722294UNINA